Brooklyn, NY Rental Market Overview

Brooklyn New York Property Management Companies

Huge Opportunities in New York's Densest Borough
In 2013 Marcus and Millichap rated New York first among all American cities in their National Apartment Index, largely because of a sub 2% vacancy rate and outsized rent growth. As the highest populated borough in New York, Brooklyn remains among the most successful and appealing locations for property owners and investors to own rental assets. While nearly all New York rental markets measured strong rent growth, rental price inflation remains highest in the affluent zip code areas and regions undergoing extensive renovations. Marcus and Millichap noted that New York property managers and landlords had more leeway to push rents in these boroughs. This trend directly affects Brooklyn, especially after the New York Planning Commission approved the revitalization of the downtown areas, allowing for the rezoning of additional residential units among new commercial and residential building sites.

How Independent Brooklyn Landlords Keep Up with Large Developers
Considering the surge in rental property demand and rezoning opportunities, Brooklyn landlords and independent developers taking on additional work and expansions remain only limited by their liquid assets and resources. That's why time is at a premium, especially for small property owners. Property management companies remain a practical solution for time management concerns, especially for independent landlords mired in incessant tenant requests, ongoing maintenance calls, applicant screenings and property showings. Most Brooklyn property management companies are highly flexible about sharing work responsibilities, so landlords can delegate their biggest time-consuming tasks to a property manager while focusing on big picture business strategies and other development plans. Review our extensive list of Brooklyn property management company profiles and request your free instant quotes today.